Bitget releases protection fund data, the average size in October was US$357.2 million

Bitget released the latest data on protection funds in October. The data shows that the highest size of protection funds in October was US$388.5 million (October 29), the lowest size was US$337.9 million (October 12), and the average size was US$357.2 million. The size of the protection fund continues to remain above US$330 million. These assets are stored in public addresses that users can track and verify in real time. Bitget’s Protection Fund will be launched in August 2022 with an initial size of US$200 million and is designed to protect users’ assets from force majeure events, hacker attacks or extreme market conditions. In November 2022, Bitget increased the size of the fund to over US$300 million, and Bitget promised to maintain the value of the fund above US$300 million in the next three years.